Mark Gurman

execute things on their own, do more than just, like, you had to prompt something, like Chachapiti, you know, for your own personal Chachapiti.

So what's exciting is that these enterprise agents, I think, are going to be more of a force here, and we're starting to see that really pay off.

And when you think about it, like, I think the market's reacting the way it is because if you think about it in the future, like, there are wide-sweeping implications for companies

what most mean like in terms of software as well as information services.

So it's definitely a disruptive potential force here.

Yeah, so I think that it's more important that you are the platform and not just a feature.

Because if you're a feature, then AI agents can encode software so easily and costlessly that you essentially can be embedded in a bigger platform.

And so I think that increasingly you want to make sure that you're the layer that all these agents need to coalesce around.

I think that there's going to be a lot of change here in terms of, and we honestly don't know.

And so I think the market is in a sell first and ask questions later mode.

And so it's important to kind of stay on the right side and manage these changes in the market.

Tony, NVIDIA CEO Jensen Wong has this line that software is now worth paying for.

The example he would give is Cursor.

But I guess what we're trying to do with you is define what software is that is worth paying for.

You just brought up Salesforce, right?

So in the most recent quarter, they had like,

more than a billion dollars of ARR directly from AI, and they talk about all the almost 19,000 agent force deals that they have, yet they're still subject to this same AI is going to eat software's lunch chat that's going on right now.

Why do people not believe the traction that they have as an example that it's worth paying for?

Yeah, so I think there's two things that I think about.

One is that there's just so much competition when you think about all these AI-native startups, and their pricing in a way that is really compelling and to drive adoption, essentially.